Hudson Valley Investment Advisors Inc. ADV Has $451,000 Stock Holdings in Illinois Tool Works Inc. (NYSE:ITW)

Hudson Valley Investment Advisors Inc. ADV cut its stake in Illinois Tool Works Inc. (NYSE:ITW) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,780 shares of the industrial products company’s stock after selling 125 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Illinois Tool Works were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of Illinois Tool Works in the second quarter worth $30,000. True Wealth Design LLC increased its stake in shares of Illinois Tool Works by 1,060.0% in the third quarter. True Wealth Design LLC now owns 116 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in shares of Illinois Tool Works in the third quarter worth $32,000. Northwest Investment Counselors LLC bought a new stake in Illinois Tool Works in the third quarter worth $35,000. Finally, Meeder Asset Management Inc. boosted its holdings in Illinois Tool Works by 261.4% in the second quarter. Meeder Asset Management Inc. now owns 159 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 115 shares in the last quarter. 79.77% of the stock is owned by institutional investors and hedge funds.

Illinois Tool Works Stock Down 1.1 %

NYSE ITW opened at $245.01 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.97 and a current ratio of 1.36. The firm has a 50-day simple moving average of $265.91 and a 200 day simple moving average of $254.87. Illinois Tool Works Inc. has a twelve month low of $232.77 and a twelve month high of $279.13. The stock has a market cap of $72.35 billion, a PE ratio of 21.19, a PEG ratio of 4.22 and a beta of 1.11.

Illinois Tool Works (NYSE:ITW) last released its earnings results on Wednesday, October 30th. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.12. Illinois Tool Works had a net margin of 21.66% and a return on equity of 97.06%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company earned $2.55 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that Illinois Tool Works Inc. will post 10.13 EPS for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Illinois Tool Works’s dividend payout ratio (DPR) is presently 51.90%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ITW. Citigroup upped their price objective on shares of Illinois Tool Works from $266.00 to $279.00 and gave the stock a “neutral” rating in a report on Monday, December 9th. Evercore ISI cut shares of Illinois Tool Works from an “in-line” rating to an “underperform” rating and upped their price objective for the stock from $246.00 to $255.00 in a report on Wednesday, November 13th. StockNews.com upgraded shares of Illinois Tool Works from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Truist Financial upped their price objective on shares of Illinois Tool Works from $312.00 to $318.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Illinois Tool Works from $262.00 to $268.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $271.67.

About Illinois Tool Works

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.